FDD ITEM 20 · FISCAL 2023–2025
MURPHY BUSINESS & FINANCIAL CORPORATION Item 20: outlets, closures & growth
In its latest FDD Item 20 (fiscal 2025), MURPHY BUSINESS & FINANCIAL CORPORATION reported 133 franchised outlets at year end. 8 of 135 franchised outlets open at the start of the year left the system — an annualized exit rate of 5.9%— while 6 new outlets opened. Systemwide units moved 0.0% over 2023–2025.
| Status (FTC) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Outlets at start | 135 | 134 | 136 |
| Opened | 5 | 15 | 6 |
| Transfers | 1 | 2 | 1 |
| Terminations | 0 | 3 | 2 |
| Non-renewals | 4 | 8 | 6 |
| Reacquired by franchisor | 0 | 0 | 0 |
| Ceased — other reasons | 2 | 2 | 0 |
| Outlets at end | 134 | 136 | 134 |
| Net change | -1 | +2 | -2 |
2 terminations + 6 non-renewals + 0 ceased (other) = 8 exits ÷ 135 at start = 5.9%
These are the three FTC Item 20 statuses in which a franchisee involuntarily or terminally leaves the system. Transfers (1) are resales, not exits; reacquisitions by the franchisor (0) are tracked separately. There is no official “failure rate” — this annualized exit rate is the disclosed, measurable floor.
| State | Franchised | Company-owned |
|---|---|---|
| TX | 18 | — |
| FL | 17 | 1 |
| NC | 9 | — |
| MT | 7 | — |
| NJ | 7 | — |
| CA | 6 | — |
| UT | 6 | — |
| MN | 5 | — |
| MO | 5 | — |
| OH | 5 | — |
| PA | 5 | — |
| VA | 5 | — |
| GA | 4 | — |
| ID | 4 | — |
| SC | 4 | — |
| CO | 3 | — |
| IA | 2 | — |
| KY | 2 | — |
| OR | 2 | — |
| TN | 2 | — |
| WA | 2 | — |
| AR | 1 | — |
| CT | 1 | — |
| IN | 1 | — |
| KS | 1 | — |
| LA | 1 | — |
| MA | 1 | — |
| MD | 1 | — |
| ND | 1 | — |
| NE | 1 | — |
| NY | 1 | — |
| SD | 1 | — |
| WI | 1 | — |
| WY | 1 | — |
| AZ | 0 | — |
| MS | 0 | — |
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